BELGRADE (Serbia), September 12 (SeeNews) – Komercijalna banka [BEL:KMBN] said on Tuesday it is the leading lender in Serbia in terms of the number of government-subsidised loans extended to farmers under a lending programme of the country’s agriculture ministry for 2017.
Komercijalna banka has extended 610 subsidised loans to farmers, or 31.1% of the total number extended under the programme in 2017, the bank said in a statement.
The aggregate value of extended loans was 730 million dinars ($7.3 million/6.1 million euro), or 20% of the total value of financing lent under the programme this year.
The loans have a repayment period of up to three years, except for the purchase of agricultural machinery, where the period can be extended to up to five years, Komercijalna banka said.
The agricultural financing programme is still in force and Komercijalna banka intends to keep up the lending pace.
The programme was launched in May and expires on November 1. The loans carry a fixed annual interest rate of 1% for individuals and 3% for companies, with maximum loan amounts standing at 6 million dinars and 18 million dinars, respectively, according to agriculture ministry data.
(1 euro = 119.369 dinars)